NEOS Investment Management LLC Grows Position in Xcel Energy Inc. (NASDAQ:XEL)

NEOS Investment Management LLC raised its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 24.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,269 shares of the company’s stock after purchasing an additional 13,658 shares during the period. NEOS Investment Management LLC’s holdings in Xcel Energy were worth $4,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of XEL. Hodges Capital Management Inc. boosted its holdings in Xcel Energy by 447.1% in the 4th quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock valued at $3,470,000 after purchasing an additional 42,001 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Xcel Energy by 7.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company’s stock worth $12,404,000 after buying an additional 12,477 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Xcel Energy during the fourth quarter valued at $278,000. GEN Financial Management INC. bought a new stake in Xcel Energy during the fourth quarter valued at $301,000. Finally, Oak Thistle LLC purchased a new position in Xcel Energy during the fourth quarter worth about $1,433,000. Institutional investors own 78.38% of the company’s stock.

Insider Transactions at Xcel Energy

In related news, Director Devin W. Stockfish purchased 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the completion of the purchase, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Xcel Energy Stock Up 0.6 %

NASDAQ XEL opened at $69.32 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The stock has a market capitalization of $39.83 billion, a PE ratio of 20.15, a PEG ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a 1 year low of $51.97 and a 1 year high of $73.38. The business’s 50-day moving average is $68.53 and its 200 day moving average is $67.18.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Sell-side analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 3.29%. Xcel Energy’s dividend payout ratio is 66.28%.

Wall Street Analyst Weigh In

XEL has been the topic of several research reports. Barclays lowered their price objective on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley increased their price objective on Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. KeyCorp increased their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.30.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.